-By MIke Shields

A slew of major media companies have announced the launch of new applications for Apple’s new souped up iPhone, which hit stores on July 11.

Included among the companies looking to make a splash on the new high speed, portable Web device/cell phone are The New York Times, IGN, Bravo and AOL. For example, AOL plans to release three free applications to iPhone’s soon to be surging user base (the new phone has been marked down to $199 from a high of $599 roughly one year ago): an AOL Instant Messenger application, one for AOL Radio and one for its video search product Truveo.

Apple, much like Facebook, has opened up the iPhone to any outside developer to looking to create specific programs for the device – and these applications can be free or commercial in nature. For its part, AOL hasn’t said whether it plans to monetize these applications in any fashion—something that will be worth watching as more and more companies flood the new iPhone device with apps of their own.

Similarly, the New York Times is offering a free application which will enable user to read a digital version of the newspaper--whether they are connected to the Web or not. It will be interesting to see if this service reaches more commuters and business travelers, and whether it potentially eats into the Times’ print business. The Times’ app also features a browsing tool that allows readers to flip through different news photos and then link to relates stories as they chose.

Other media companies are simply producing pared-down versions of their Web content for their iPhone apps. For example, IGN’s app is focused solely on game reviews. Along those same lines, Bravo’s application supplies users with recipes from the series Top Chef.

Other companies launching applications include Fox Interactive Media’s Photobucket as well as PopCap Games’ Bejeweled 2.